If change is the only constant, how does that truism play in home ownership statistics? Who’s buying new homes, in real time? How do they find those abodes?
Interesting questions, right?
The traditional American model of nuclear families making up the largest share of home purchasers is passé. Demographic, societal and generational shifts over the past few decades have created different groups of home owners who now dominate current home-buying statistics.
These groups know what they want and their tastes often are reflected in their statistical strength. They’re also specific about what they seek in a new home.
The 2010 United States Census details some interesting numerical facts about these particular homeowners. See if you’re part of these trends.
Couples make up 75 percent of today’s homeowners
They indeed may have adult children out on their own, or children who reside with a parent from a previous relationship, but home buyers who are purchasing their homes as a couple are doing so for a twosome, not to house a family.
Single women make up 15 percent of today’s homeowners
This category of current homeowners likely is fueled by the ongoing growth in women’s economic and personal independence. It also may reflect women who are prioritizing career success and enjoying the financial growth that accompanies it. These women embark on homeownership free of ties to a spouse, family member or partner.
A total of 65 percent of homeowners have no children
Factors include choosing to delay starting a family or not to have children. A percentage of these homeowners also could have children from a previous marriage or relationship, but those children are out on their own or live in other households.
Foreign-born home buyers make up 11 percent of today’s U.S. homeowners
Half of these buyers find their homes online and 25 percent find their new U.S. homes on their smart phones. How’s that for efficiency!
The above homeownership categories — 75 percent couples, 15 percent single women, 65 percent adults without children and 11 percent foreign-born buyers — also may be influenced by the rising tide of Baby Boomers, who are people age 65 and over. By 2012, there were 47 million Americans age 65 and older, per the U. S. Census Bureau.
One final, significant trend among today’s home buyers: they want LARGER homes. This may spotlight preferences for enough room for storage, for in-home entertainment and for simple spaciousness. It also could reflect thinking of the future, particularly homeowners who are Baby Boomers and want to retire, or, who may care for elderly parents.